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information

knowledge possessed by persons and firms about products, customers, suppliers, prices, delivery terms, etc. Information has an economic value when it is scarce and is not available to all potential parties to a TRANSACTION or CONTRACT. Firms spend large amounts of money on product and process research and development and on market research and other forms of data-gathering in order to try to gain information to reduce UNCERTAINTY.

However, firms need to balance the costs of gathering information against the value of additional information to them. See MARKETING RESEARCH, DATA PROCESSING, INFORMATION MANAGEMENT.

information

knowledge possessed by persons and firms about products, customers, suppliers, prices, delivery terms, etc. Information has an economic value when it is scarce and is not available to all potential parties to a TRANSACTION. For example, if information is not widely available to all parties to a CONTRACT, then one party to the contract can use his or her superior knowledge to his or her advantage at the expense of other parties to the contract (see ASYMMETRY OF INFORMATION, ADVERSE SELECTION).

Firms spend large amounts of money on product and process research and development and on market research and other forms of data-gathering in order to try to gain information to reduce UNCERTAINTY. However, firms need to balance the costs of gathering information against the value of additional information to them.

References in periodicals archive ?
In her remarks, President Tsai emphasized the urgent need to improve informational security throughout Taiwanese society.
Ethan Harkleroad, a recent accounting graduate of the University of San Diego, has used informational interviews to decide on a career, secure four internships, and establish contacts with mentors.
Here, Floridi advances an informational level of abstraction (LoAi) and the principles of IE.
Aimed at K-3 teachers, this guide outlines research-based methods to teach children to read, write, and learn from informational texts.
Synopsis: Comprehending complex informational text can be complex for students.
This focus on increasing the amount of informational text reading stems from a history of students who have difficulty reading these types of texts (Carnegie Council on Advancing Adolescent Literacy, 2010; Heller & Greenleaf, 2007).
lot 2: printing of educational, informational and promotional materials.
The exhibition ended its work on 22nd of May, but the implementation of the Business-Inform Informational Project continues.
Web Metrics For Library And Informational Professionals" by David Stuart (Researcher in the Centre for e-Research at King's College London) is a 192 page compendium that provides librarians with an informative and practical introduction to web metrics, bibliometrics, webometrics, and data collection tools.
As a 3rd-grade teacher, who has recently been given the incentive to teach not only reading informational texts but writing expository pieces, I found this book to be very helpful.
What constitutes an informational text covers a broad swath of different types of texts.
Abstract: The paper presents new informational symbols for existing holding and driving elements and mechanisms used for machining cylindrical parts between centers.

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